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Two years ago, you took out a 3-year, $60,000 interest-only loan. The interest rate on the loan is 7.5 percent with annual payments. How much

Two years ago, you took out a 3-year, $60,000 interest-only loan. The interest rate on the loan is 7.5 percent with annual payments. How much will the loan payment be that is due today?

A. $3,000

B. $4,500

C. $1,500

D. $0

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